Legal Question in Civil Litigation in Indiana
my car was totaled
my car was totaled by another driver, his ins will only pay 2600, I still owe 5000 on the car. so if I sign this paper (poa) I will have to eat that 3000 and have no car. I thought Ins, was there to cover the innocent party. what recourse do I have?
2 Answers from Attorneys
Re: my car was totaled
I assume that they are offering to pay fair market value and not replacement costs. That is usual. You do not mention any physical injury but it still might be worthwhile for you to call a personal injury attorney.
Re: my car was totaled
You need to determine the fair market value of your vehicle. Look at NADA, Edmunds, Kelley and see how your vehicle matches up with their offer. They are not required to pay you more than fair market value. However, you are also entitled to loss of use for the period of time between when the car was damaged and they made an acceptable offer.
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